      1



       , -
   .        -
     .  
(investment environment)   ,   , -
    .    (investment process}
  ,        , 
  .       ,  -
   (investments).

      :   
 ,       .   
       .      
 .   ,   , 
   .      
 (,   ).     -
  ( ,      ).   -
          (,  -
 ).

       (savings).
    .    -
    ,   
  .         -
,        . ,   -
,       .

  (real investments)     -
   , ,  , , . -
  (financial investments)   ,  
, ,     .   
     ,       -
      . -
        -
   .  ,     -
,   .

       
  .      (  ),
      .    -
,       ?      
  . ,  ,   